Justin:When Thomas asked about legal non-confirming, I do not believe he was implying your house is not compliant with building and fire codes, but was asking if it conformed to local zoning by-laws.We have student housing as well and it has been our experience that most university towns have occupancy by-laws limiting the number of un-related adults in a single dwelling unit (usually to 3 - 5) which are specifically aimed at student rooming houses.  

Just an update and clarification on the hard money deal I am trying to beat. 10.5% is the actual interest rate with 3 points on a 1 year term. 

@Edward SynickyJust a little update. 

The condition, town sewer, system update, 3rd floor walk-up and great in-town location to schools, MBTA, EBSCO & restaurants – makes this a very desirable property when completed.

I was fortunate to get into this deal which was as much about the people as the property, although I have confidence in the property also I think it's worth a good 15% more than what I paid.Other Updates..#12 had a deposit down the day after I closed on it.  

. $5K in updates would wash profit to be equivalent to this potential wholesale profit.Potential Plan C: Rent it..

. $5K in updates would wash profit to be equivalent to this potential wholesale profit.Potential Plan C: Rent it..

., on a buy and hold before you rent it) contractors usually give to investors vs the estimates/pricing usually provided to your average homeowner wanting to update their house?

Just heard back from the lawyer, so thought I would update this thread in case others are searching for an answer to this in the future.The lawyer confirmed what the state was telling me, which is: If you want to buy properties to fix and flip or rent out in the state of Virginia, you, the owner/investor/landlord, must be a contractor.  

Hi All,Since I've got a lot of projects going on, I thought I'd consolidate the updates that I post onto one thread.